Zacks Investment Research upgraded shares of Empire State Realty Trust (NYSE:ESRT) from a sell rating to a hold rating in a research report report published on Monday.

According to Zacks, “Empire State Realty Trust, Inc. is a real estate investment trust which owns, manages, operates, acquires and repositions office and retail properties primarily in Manhattan and New York metropolitan area. Empire State Realty Trust, Inc. is based in New York, United States. “

A number of other research firms also recently weighed in on ESRT. TheStreet downgraded Empire State Realty Trust from a b rating to a c+ rating in a research report on Thursday, November 16th. Evercore ISI upgraded Empire State Realty Trust from an in rating to a line rating and set a $23.00 target price for the company in a research report on Monday, December 4th. BidaskClub downgraded Empire State Realty Trust from a hold rating to a sell rating in a research report on Saturday, October 28th. Finally, BMO Capital Markets restated a buy rating and issued a $23.00 target price on shares of Empire State Realty Trust in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $22.50.

Shares of Empire State Realty Trust (ESRT) opened at $17.79 on Monday. The firm has a market capitalization of $2,896.33, a P/E ratio of 18.83, a P/E/G ratio of 4.31 and a beta of 0.86. Empire State Realty Trust has a 12-month low of $17.78 and a 12-month high of $21.98. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.93 and a quick ratio of 4.93.

In related news, Chairman Anthony E. Malkin sold 1,243,163 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $20.45, for a total value of $25,422,683.35. Following the completion of the sale, the chairman now owns 156,416 shares in the company, valued at approximately $3,198,707.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Cohen & Steers Inc. lifted its position in Empire State Realty Trust by 3.9% in the third quarter. Cohen & Steers Inc. now owns 19,570,975 shares of the real estate investment trust’s stock valued at $401,988,000 after purchasing an additional 727,977 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Empire State Realty Trust by 12.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,221,178 shares of the real estate investment trust’s stock valued at $168,781,000 after purchasing an additional 898,581 shares during the last quarter. BlackRock Inc. lifted its position in Empire State Realty Trust by 3.3% in the second quarter. BlackRock Inc. now owns 7,131,040 shares of the real estate investment trust’s stock valued at $148,111,000 after purchasing an additional 229,390 shares during the last quarter. Resolution Capital Ltd lifted its position in Empire State Realty Trust by 5.9% in the fourth quarter. Resolution Capital Ltd now owns 6,408,038 shares of the real estate investment trust’s stock valued at $131,557,000 after purchasing an additional 356,916 shares during the last quarter. Finally, AEW Capital Management L P lifted its position in Empire State Realty Trust by 8.9% in the fourth quarter. AEW Capital Management L P now owns 3,567,800 shares of the real estate investment trust’s stock valued at $73,247,000 after purchasing an additional 290,700 shares during the last quarter. Hedge funds and other institutional investors own 82.75% of the company’s stock.

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About Empire State Realty Trust

Empire State Realty Trust, Inc is a real estate investment trust. The Company owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building. The Company operates through two segments: Real Estate and Observatory.

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